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Technology Stocks : Advanced Radio Telecom (ARTT) -- Ignore unavailable to you. Want to Upgrade?

To: SteveG who wrote (501)	3/24/1999 2:02:00 AM
From: transmission	Read Replies (1) \| Respond to of 1176

what is a floorless convert. Heard ART at investment forums said it is to raise 100MM in new equity take down 200MM Lucent change then later raise 525MM debt vehicles plus use 400MM more Lucent. What would convert issue get and do to common if valuation was at 700MM level that one of two ladies on yahoo says company is seeking and what if valuation was in 500MM range.

To: SteveG who wrote (501)	3/24/1999 7:06:00 AM
From: GVTucker	Read Replies (1) \| Respond to of 1176

Steve, RE: floorless converts Hirsch is not stupid. Issuing a floorless convert is stupid. Given the level of interest in wireless right now, I'd say that the odds of ARTT issuing a floorless covert at zero. This may be just wishful thinking form me, perhaps, but Hirsch is better off selling the company at a discount to the current market rather than do what amounts to be a transfer of wealth from the current common shareholders to various hedge funds in New York.